Saregama India Limited has informed the Exchange about Investor Presentation
Date: 1st November, 2023
The Manager, Listing Department, National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra – Kurla Complex, Bandra (East), Mumbai – 400 051
The General Manager, The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001
Symbol: SAREGAMA
Scrip Code: 532163
Subject: Investor Presentation
Reference: Unaudited Financial Results (Standalone and Consolidated) of the Company, for the
quarter and half year ended on 30th September, 2023
Dear Sir/ Madam,
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) as amended from time to time, please find enclosed the Investor Presentation for the Unaudited (Standalone and Consolidated) Financial Results for the quarter and half year ended on 30th September, 2023.
This information is available on the website of the Company www.saregama.com
You are requested to kindly take the abovementioned on record and oblige.
Yours Faithfully, For SAREGAMA INDIA LIMITED
Priyanka Motwani Company Secretary and Compliance Officer Encl. As above
SAREGAMA India Limited, 33, Jessore Road, Dum Dum, Kolkata - 700 028, India. Tel: +91 33 2551 2984, Fax: +91 33 2550 0817, Web: www.saregama.com CIN: L22213WB1946PLC014346 Email ID: co.sec@saregama.com
SAREGAMA INDIA LIMITED | QUARTERLY PRESENTATION | Q2 FY24
SAREGAMA STRENGTHS
India’s only entertainment company with IP offerings across media channels (music, films, web series and TV serials), delivery platforms (physical and digital) and business models (licensing and retail)
Large intellectual property portfolio of 150K+ songs, 70 films and web series, 6K+ hours of television content
Strong licensing relationships with streaming applications and platforms for music and video
Increasing IP library with a growing presence in all leading Indian languages
Investments and Capabilities in Data Analytics and Technology for content acquisition and IP protection
Strong financial position with track record of revenue growth, margin expansion and cash flow generation
Experienced and creative leadership through Management Team and Promoter Group
2
SAREGAMA KEY FINANCIAL METRICS
Revenue From Operations (INR Mn)
Adjusted EBITDA (INR Mn)
22% CAGR
7,366
50% CAGR
2,712
2,230
5,806
5,447
5,215
4,420
3,566
2,185
1,451
1,519
786
763
511
237
847
603
389
159
PBT(INR Mn)
58% CAGR
2,481
2,044
FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY23 numbers are restated post impact of demerger
ACQUISITION HIGHLIGHTS
4
Business Verticals
Key Strengths
POCKET ACES PICTURES PVT LTD
India’s leading digital media entertainment company incorporated in 2013. Based out of Mumbai
1. Direct to Consumer content: Short-form video content published on own channels such as Filter Copy, Gobble, Dice, Nutshell and producing 50+ videos every week. Working with 200+ Brand Partners
2. Artiste Management: Largest on revenue and numbers, Clout manages 120+ digital influencers and actors. The goal is to use Company’s IP creation power to promote the artistes and then monetize them through brand endorsements.
3. OTT content: Create Digital web-series for licensing to Video OTT platforms (Hotstar, Netflix, Amazon Mini TV, Voot)
• 95Mn + followers across social media platforms • Revenue from Operations was Rs.1,044 Mn in FY23. Revenue has grown by 34% CAGR over the last
4 years and is expected to grow even faster in future
• Only media house with ‘Youth” positioning in the market : attractive to platforms, creative talent and brands •
Its Influencer Management business, Clout, is the biggest in India, both in terms of no of digital influencers and revenue
•
Pillars of IP creation, distribution and access to talent make a smooth flywheel for offering to Brands
• One of the top 3 Influencer Management companies
Content Creation is the Core
Youth Centric Brand Partnerships
Digital Platform Strategies
Influencers riding on Music
Similar Businesses
BUILDING SYNERGIES
We complement content creation for different customer segments 0 -12 Years – Saregama While Saregama focusses on Mainstream Culture, Pocket Aces thrives on Counter-Culture
12-35 Years – Pocket Aces
35+ Years – Saregama
Pocket Aces’ chemistry with the young audience creates a great pull for youth-centered Content Creators and Brands. Saregama to leverage for its New/Old Music
Access to 95Mn digital followers of Pocket Aces creates a big marketing leverage, and hence differentiator for Saregama in acquiring new music content
Gaining access to Saregama's 150k music assets would enable Pocket Aces to offer its influencers a highly lucrative opportunity to develop Branded Content business, thereby solidifying Pocket Aces' position as the industry leader in Influencer Management
Video
: While Saregama focuses on theatrical films, Pocket Aces is big on Web Series
Both rely on Digital OTT for their returns
Artiste Mgt. : While Pocket Aces is big on Influencers, Saregama’s focus is Singers
Both rely on making Artiste big through Content, and then monetizing them through Brands & Live Events
6
CONTENT IP : BOTH COMPANIES FIT EACH OTHER AS A JIGSAW PUZZLE
Creation Capability
1 min Video
3 min Songs
22 min TV Series
45 min Web Series
120 min Films
Talent Building
Monetisation Strength
Marketing Power
Music OTT
Video OTT
Brands
TV Channels
Live / Wedding Events
Corporate Relationships
2M
64M
8M
15M
97M
16M
Target Consumer
YouTube
0-12 Yrs
12-35 Yrs
35+ Yrs
Saregama
Pocket Aces
THE “SYNERGY” SHOULD RESULTS IN THE COMBINED REVENUES OF THE TWO COMPANIES GROWING @ 27-28% ON MEDIUM-TERM BASIS
COMPANY OVERVIEW
8
MUSIC LICENSING, MUSIC RETAIL, FILMS & SERIES, LIVE EVENTS
1,574
1,024
702
521
476
Film, Events and Series,
FY19
FY20
FY21
FY22
FY23
2,948
2,062
1,056
861
1,298
Music Retail
FY19
FY20
FY21
FY22
FY23
FY23 numbers are restated post impact of demerger
21%
18%
FY23 Revenue INR 7366 Mn
61%
* 4,410
* 3,585
* 2,839
* 2,361
1,949
FY19
FY20
FY21
FY22
FY23
* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn in FY20 are excluded
Music Licensing
STRATEGIC OVERVIEW
To be a Pure Play Content Company capitalising on the global content consumption boom
driven by the ever-increasing Digitisation
Monetisation of Existing IP
Through licensing to EVERY 3rd party Digital (music, video, social) and TV platform.
Carvaan transitioning from being a Product with only one-time margin to a Platform for Music lovers with recurring advertising, transaction and subscription revenue
Cementing leadership position with New film and non-film music acquisition across Hindi, Tamil, Telugu, Bhojpuri, Gujarati, Punjabi, Malayalam, Bengali and other regional languages.
Building of New IP
Producing Theatrical Films in only Regional languages and Web Series in all languages. Revenue secured through pre-licensing to digital platforms. Scale allowing lower cost of production
Building Live Music based Events IP, preferably around Saregama owned music
150k+ Songs | 70 Movies & Web Series | 6k+ hrs of TV Series | Advantage Saregama
PATH TO LEADERSHIP POSITION IN MUSIC SEGMENT
Disproportionate Share of
New Content across Hindi & Regional Languages
+
Acquisition of Small & Mid size Music Catalogues using Cash Reserves
+
Better Monetisation Capability on the back of Catalogue + New Content strength
Investments in Data Analytics & AI Marketing Muscle
+
Deeper artiste relationships through play in Artiste Management & Live Events
+
Strength of Balance Sheet Decentralised Decision Making
+
India’s Largest and Most Popular Music Catalogue
MUSIC SEGMENT REVENUE FROM CATALOGUE MUSIC CONTINUES TO GROW
Annual Growth in Music Licensing Revenue from Saregama owned Songs classified by Decade of Release
FY19
FY20
FY21
FY22
FY23
2001 – 2020
1981 – 2000
Till 1980
47%
32%
24%
24%
18%
23%
18%
27%
20%
4%
1%
5%
19%
19%
7%
All revenue from derivatives of catalogue songs are classified basis original song release date
MUSIC SEGMENT SAREGAMA IS NO LONGER A CATALOGUE COMPANY
33% of Saregama’s songs were released post 2000, and they contributed to 48% of FY23 revenue
FY23 150k+ songs generated Licensing Revenue INR 4,410 Mn * Era wise Breakup
2021-2023
8%
27%
2001-2020
1981-2000
1961-1980
Till 1960
25%
26%
25%
21%
21%
29%
16%
2.6%
Count of Songs
Revenue
Derivatives of catalogue songs are classified basis derivative song release date *Excluding one time income of INR 84 Mn
48% of Licensing Revenue now comes from 21st century songs
OUR GROWTH STRATEGY IN VIDEO SEGMENT
Pick Films and Cast primarily basis recoveries from Digital and TV licensing
+
Pick Web Series basis pre-licensing approval from a VoD platform
Volume of Films / Series to drive Cost Optimisation & Licensing Leverage
Greater emphasis on regional movies because of better ROI
Retain IP for Portfolio building & future exploitation
+
Access to Music Catalogue gives Unique Strength
OUR LICENSING PARTNERS
Streaming Partners Music
Broadcasting Partners Music + Films & Series
Video Streaming Partners Music + Films & Series
vO
uVid
v
Social Media Platforms Music + Films & Series
Brands Music
15
OPERATIONAL HIGHLIGHTS
16
MUSIC SEGMENT REVENUE PER QUARTER (INR Mn)
1547
1509
1569
1491
1378
1333
1274
1216
1175
1142
1004
919
858
696
Q1 FY21
Q2 FY21
Q3 FY21
Q4 FY21
Q1 FY22
Q2 FY22
Q3 FY22
Q4 FY22
Q1 FY23
Q2 FY23
Q3 FY23
Q4 FY23
Q1 FY24
Q2 FY24
* One time income of INR 84Mn in FY23, INR 97Mn in FY22 and INR 155Mn in FY21 are excluded
17
MUSIC LICENSING - MONETISATION
• OTT : Progressive shift seen as paid subscription replaces free consumption. 3 more players (Gaana, Resso and Hungama) have moved behind paywalls. Strong revenue growth in medium to long-term despite short term pressure (due to minimum guarantees going away)
• Brand Licenses:
Dabur Babool, Soopersoft Biscuits, Ola Electric, Google, HUL etc.
• Digital Content Licenses:
IPL Opening & Closing Ceremony (Jio Studio), The Freelancer (Web- Series: Hotstar), Guns n Gulaabs (Web-series : Netflix) etc.
• Film Sync Licenses:
Licensed 2 songs for Sharukh Khan film “Jawan”; 1 song for Sunny Deol
film “Gadar 2” etc.
YOUTUBE VIEWS (Bn) PER QUARTER
39
45
66
53
114
85
100
95
90
85
80
75
70
65
60
55
50
YOUTUBE SUBSCRIBERS (Mn)
97
91
85
80
75
70
Q1FY23
Q2FY23
Q3FY23
Q4FY23
Q1FY24
Q2FY24
Q1FY23
Q2FY23
Q3FY23
Q4FY23
Q1FY24
Q2FY24
Includes all views related Saregama IP across it’s owned channels and user generated content on YouTube and YouTube Shorts
18
GROWING FASTER THAN COMPETITION ON YOUTUBE CONSUMPTION
YoY YouTube Views Growth SIL Vs Competition
46%
5%
2%
FY22
-6%
-18%
28%
8%
-5%
-5% FY23
-8%
34%
2%
-3%
FY24
-5%
-12%
SIL YoY % Growth
C 1 YoY % Growth
C 2 YoY % Growth
C 3 YoY % Growth
C 4 YoY % Growth
• The above growth is basis year on year YT views on respective Company Channels and does not include YT Shorts and views generated from User Generated Content • FY24 views has been annualized basis actual views of Half year ended 30 September 2023 • Source for all above numbers : socialblade.com • C 1 : Competitor 1. C 2 : Competitor 2 C 3 : Competitor 3 and C 4 : Competitor 4
19
Major Film Albums Released in H1 FY24 - Building IP for tomorrow
Film
Language
No. of Songs
Production House
Star Cast
Rocky Aur Rani Kii Prem Kahaani
Zara Hatke Zara Bachke
Hindi
Hindi
Jaane Jaan
Hindi
I Love You
Hindi
RDX
Malayalam
Dasara
Kushi
Telugu
Telugu
Maaveeran
Tamil
Pichaikkaran 2
Tamil
Kousalya Supraja Rama
Kannada
14 05 02 04 05 10 05 06 06 06
Dharma Productions, Viacom18 Studios 12th Street Entertainment,
Maddock Films, Jio Studios
Alia Bhatt Ranveer Singh
Sara Ali Khan, Vicky Kaushal
Northern Lights Films, Kross Pictures
Kareena Kapoor, Vijay Varma, Jaideep Ahlawat
Jio Studios, Athena
Pavail Gulati, Rakul Preet Singh
Weekend Blockbusters
Antony Varghese,Shane Nigam,Neeraj Madhav
Sri Lakshmi Venkateswara Cinemas
Nani, Keerthy Suresh
Mythri Movie Makers
Samantha Prabhu, Vijay Deverakonda
Shanthi Talkies
Vijay Antony Film Corporation
Kourava Production House, Shashank Cinemass
Sivakarthikeyan Aditi Shankar
Vijay Antony, Kavya Thapar
Darling Krishna Brinda Acharya
Box Office Collection (Rs. Cr)
350+ 115+
Released on OTT
Released on OTT
100+ 115+
70+ 85+ 35+ 15+
Box Office Collection Source : Wikipedia
Chartbuster Songs of H1 FY24
MUSIC SEGMENT : CONTENT CREATION Film Music released in Q2 FY24 TELUGU
TAMIL
HINDI
Ranveer Singh & Alia Bhatt
Samantha & Vijay Deverakonda
Naga Shaurya & Yukti Thareja
Suriya & Disha Patani
Sivakarthikeyan
Kareena Kapoor Khan
Ravi Teja
Ruhani Sharma
MALAYALAM
Surjith
Kannada
Vijay Antony
Marathi
Bhumi Pednekar & Shehnaaz Gill
Mahima Nambiar & Shane Nigam
Malavika Sreenath & Asif Ali
Avinash
Siddharth Jadhav
MUSIC SEGMENT : CONTENT CREATION Non-Film Music released in Q2 FY24
BHOJPURI
GUJARATI
HINDI
Gunjan Singh
Neelkamal Singh
Kajal Maheriya
Omkar Singh
Saaj Bhatt
Vijay Chauhan, Shilpi Raj
Shivam Singh & Shivani Singh
Rakesh Barot
Gen z Grooves
Madhur Sharma
DEVOTIONAL
Dawai Ke Dihi
Shilpi Raj & Neelkamal Singh
Mahesh Vanzara
Utkarsh Sharma
Om Namah Shivaya
23
MUSIC RETAIL
Retail:
• Unit Sales grew 21% Y-o-Y
• High contribution of Carvaan Mobile resulting in unit
realisation coming down. Margin % maintained
CARVAAN SALES (units '000s)
168
156
149
139
189
141
103
112
98
200
180
160
140
120
100
80
60
40
20
0
45
Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24
Future Outlook
▪ Reliance on Natural Pull from the market
▪ Tight cost controls to continue
24
Films and Web Series
Upcoming releases
FILMS & SERIES
Released Asif Ali and Sunny Wayne starrer “Kasargold” during the quarter.
Digital Release on Netflix in October’23.
Kasargold Asif Ali
Anveshippin Tovino Thomas
Malaikottai Valiban Mohanlal
Bazooka Mammootty
TV Segment
• “Ilakkiya” continued its No. 1 TV serial position in afternoon
slot across all Tamil Channels.
• All serials Anbe Vaa, Ilakkiya and Iniya were the Slot Leaders
in their respective time slots.
• Saregama TV Shows YouTube channel garnered 1.3 Bn views in Q2 FY24 i.e. more than 3x growth over Q2 FY23 of 393 Mn views
Future Outlook
• Unlocking
value of the existing IP through language new platform remakes, licensing and syndication
25
FINANCIAL HIGHLIGHTS
CONSOLIDATED
26
QUARTERLY FINANCIAL SUMMARY
Particulars (INR Mn)
Revenue from Operations
•
•
•
Music
Films and Television serials
Events
Revenue from Operations
Adjusted EBIDTA (EBIDTA excluding Content Charge)
Q2 FY24
Q1 FY24
Q-o-Q Growth
Q2 FY23
Y-o-Y Growth
1,569 151 4
1,723
720
1,491 122 20
1,633
623
5% 24% (80)%
6%
16%
1,509 153 188
1,850
704
4% (1)% (98)%
(7)%
2%
Content Charge include the following charges related to the new content during the year: 1) 4) Content charge does not include any royalty paid post recoupment of the Minimum Guarantee amount.
Amount amortised in case of Royalty based deals 2) Amount amortised against the one-time fee paid in case of Outright purchase-based deals 3) Marketing of new content
Revenue from Operations (INR Mn)
189
153
58 213
2
573
20 122
4 206
1,509
1,547
1,461
1,491
1,569
Q2-FY23
Q3-FY23
Q4-FY23
Q1-FY24
Q2-FY24
700
200
Adj. EBITDA (INR Mn) & Adj. EBITDA Margin
38%
41%
42%
30%
38%
704
740
618
623
720
Q2-FY23
Q3-FY23
Q4-FY23
Q1-FY24
Q2-FY24
43%
38%
33%
28%
23%
18%
13%
Music
Films & TV serials
Events
Adj. EBIDTA
Adj. EBIDTA Margin
All previous quarter numbers are restated post impact of demerger
27
ADJUSTED EBIDTA TO PAT
Particulars (INR Mn)
Q2 FY24
Q1 FY24
Q-o-Q Growth
Q2 FY23*
Y-o-Y Growth
FY 23*
Revenue from Operations (A)
Total Expenses (B)
Adjusted EBIDTA (C= A-B)
Adjusted EBIDTA Margin (%)
Content Charging Cost (D)
Depreciation (E)
Finance Cost (F)
Other Income (G)
PBT (C-D-E-F+G)
Tax
PAT
PAT Margin (%)
Diluted EPS (Face Value Re.1)
1,723
1,003
720
42%
185
9
2
132
656
176
480
28%
2.50
1,633
1,010
623
38%
183
10
14
175
591
158
433
27%
2.26
6%
(1)%
16%
1%
(10)%
(86)%
(25)%
11%
11%
11%
1,850
1,146
704
38%
173
6
13
113
625
159
466
25%
2.42
(7)%
(12)%
2%
7%
50%
(85)%
17%
5%
11%
3%
7,366
4,654
2,712
37%
679
31
57
536
2,481
630
1,851
25%
9.63
* Numbers are restated post impact of demerger
28
BALANCE SHEET
Equity and Liabilities (INR Mn)
As at 30th September 2023
As at 31st March 2023*
Shareholder's fund
(a) Equity share capital
(b) Other equity
Net worth
(a) Non-controlling interest
Non-current liabilities
(a) Financial liabilities (i) Lease liabilities
(b) Employee benefit obligations (c) Deferred tax liabilities (net)
Current liabilities
(a) Financial liabilities
(i) Lease liabilities
(ii) Trade payables
(iii) Other financial liabilities
(b) Other current liabilities (c) Provisions (d) Employee benefit obligations
(e) Current tax liabilities
193
14,155 14,348
31
193
13,228 13,421
34
- 45
478
4
776
505
862 851 25
123
1 42
464
6
702
565
876 913 8
9
Total
18,048
17,041
* FY23 numbers are restated post impact of demerger
Assets (INR Mn)
Non-current assets
As at 30th September 2023
As at 31st March 2023*
(a) Property, plant and equipment
2,213
2,207
(b) Right-of-use assets
(c) Investment properties
(d) Intangible assets
(e) Intangible assets under development
(f) Financial assets
(i) Investments
(ii) Other financial assets (g) Other non-current assets Current assets
(a) Inventories
(b) Financial assets
(i) Investments (ii) Trade receivables
(iii) Cash and cash equivalents
(iv) Bank balances other than (iii) above
(v) Loans
(vi) Other financial assets
(c) Current tax assets (net) (d) Other current assets Total
4
21
1,452
58
-
525
445
7
21
1,143
40
-
530
573
2,398
1,643
3,561 1,177 1,828
2,548
227
175
351
1,065 18,048
2,388 1,480 167
4,916
262
219
301
1,144 17,041
29
CASH FLOW STATEMENT - Amended
H1 FY24
FY 23*
Particulars (INR Mn)
Pre-Tax Profit
Change in other operating activities ( including non-cash Items)
Change in Working capital
Taxes Paid
Net cash generated from Operating Activities (A)
Investment in Content @
Redemption/ (Investment) in Fixed Deposits with maturity > 3m
Redemption/(Investment) in Mutual Fund
Net cash generated from other Investing activities
Net cash generated/ (used) in Investing Activities (B)
Net cash (used in)/generated from Treasury Shares
Proceeds from Issue of Share Capital #
Repayment of Lease Liability
Dividend paid
Interest paid
Net cash (used in)/generated from Financing Activities (C)
Net (decrease)/increase in Cash and Cash Equivalent (A+B+C)
Cash and Cash Equivalents at the beginning of the period
Effect of Translation of foreign currency cash and cash equivalents
Less: Transferred pursuant to the scheme of arrangement
1,247
(249)
531
(253)
(1,058)
2,362
(1,082)
190
(22)
-
(3)
-
(2)
1,276
2,481
(432)
116
(669)
(1,481)
(3,709)
3,120
27
1,496
412
(2,043)
(161)
-
(6)
(578)
(7)
(27)
1,661
167
-
-
(752)
(1,299)
1,527
16
(77)
167
30
Cash and Cash Equivalents at end of the period # @ Represents amount invested in acquiring Music and Film IPs * FY23 numbers are restated post impact of demerger # Exclude Investment in Bank FD with maturity more than 3 months and Investment in Mutual Funds INR 6,613Mn ( FY23 INR 7,802Mn)
1,828
FINANCIAL CHARTS (CONSOLIDATED)
Revenue from Operations (Turnover) (INR Mn)
Music Licensing Revenue (INR Mn)
Content Charge (INR Mn)
PAT (INR Mn)
6 6 3 7
,
7 4 4 5
,
5 1 2 5
,
6 0 8 5
,
0 2 4 4
,
*
9 3 8 2
,
*
1 6 3 2
,
9 4 9 1
,
*
5 8 5 3
,
*
0 1 4 4
,
9 7 6
3 6 4
0 5 8 1
,
6 2 5 1
,
5 3 1 1
,
6 7 1
9 7 1
9 9
3 4 5
5 3 4
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
* One time income of INR 84Mn in FY23, INR 97Mn in FY22, INR 155Mn in FY21 and INR 21Mn (FY20) are excluded
Adjusted EBIDTA Margin (%)
Return on Equity (ROE) (%)*
Diluted EPS (INR)
% 8 3
% 7 3
% 3 3
% 3 3
% 4 2
% 6 1
% 4 1
% 5 1
Debt to Equity Ratio
Dividend per Share (INR)
.
0 3
.
0 3
.
0 2
8 2 0
.
.
6 9
.
4 8
.
5 6
% 5 1
% 3 1
.
1 3
.
5 2
.
3 0
.
2 0
3 0 0
.
- - -
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19 FY20 FY21 FY22 FY23
FY19 FY20 FY21 FY22 FY23
FY19 FY20 FY21 FY22 FY23
• ROE = PAT / Shareholders Equity • Shareholders Equity = Equity share capital and free reserves • Since FY22 INR 7500 Mn of fresh fund raise through QIP
added to Shareholders Equity
Previous Years EPS has been restated basis face value of Re.1 per share
Since FY21, Company is debt free
All FY23 numbers are restated, as applicable, post impact of demerger
31
DISCLAIMER
Saregama India Ltd. Disclaimer:
In evaluating our business, we consider and use non-GAAP financial measures such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, PAT Margin, Debt to Equity Ratio, Return on Equity, to review and assess our operating performance. These non-GAAP financial measures are not defined under Ind AS and are not presented in accordance with Ind AS. They may not be comparable to similarly titled measures reported by other companies due to potential inconsistencies in the method of calculation. We have included these non-GAAP financial measures because we believe they are indicative measures of our operating performance and are used by investors and analysts to evaluate companies in the same industry. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, other measures of financial performance and liquidity reported in accordance with Ind AS. These measures should not be considered in isolation or construed as an alternative to Ind AS measures of performance or as an indicator of our operating performance, liquidity, profitability, or results of operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the Standalone/Consolidated Financial Statements.
No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Saregama India Ltd., which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
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